Hung parliment, £ to dive to new low

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
04/05/2010 22:56

With the result of the forthcoming UK election being predicted to be a hung parliment, meaning no positive steps can be taken to reduce the UKs soaring buget deficit, looks like it will be more bad news for the expat abroad receiving UK based pensions as the value of the £ is expected to slide. We only have a couple of days before the result, is there going to be a stampede to buy Lira?



D.N

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
04/05/2010 22:59

hiya dn is it really looking that bad x

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
04/05/2010 23:05

Could really do with a well hung parliament to pull us out of this mess,

Paul.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
04/05/2010 23:09

Dixie is right. A hung parliament is bad news indeed.

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
04/05/2010 23:12

2.269TL this morning and this evening 2.298 TL!?



Richard

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
04/05/2010 23:27

Whatever I predict the exact opposite happens. So I will keep quiet.

ismet

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
04/05/2010 23:51

Now £=2.30TL.



Richard

fiendishpaul


Joined: 18/05/2008
Posts: 1720

Message Posted:
05/05/2010 07:58

Could be a good time to exchange your lira for sterling and then hope that the pound bounces back. I will be watching the exchange rates closely over the next few days.



Paul

bakhyt


Joined: 20/10/2008
Posts: 32

Message Posted:
05/05/2010 09:50

Markets have already written in a hung parliment

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
05/05/2010 10:29

Pound at 1.18Euro is as high as it has been since August last year.

Pound to TL just jumped to 2.30 - not good but better than it has been lately.

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
11/05/2010 00:28

Get rid of those £s, the bumpy ride is about to start



D.N

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
11/05/2010 00:35

Not too bad, £1=1.16Euro & £1=2.27TL



Richard

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
11/05/2010 02:30

Dixie Normus



what a lot of nonsense.



a hung parliament was expected and the markets had already predicted this.



the eurozone is in huge trouble and as a currency the Euro had been over valued for some time

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
11/05/2010 19:38

£1=1.175 Euro, £1=2.288TL

So much for a collapse in Stg!



Richard

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
11/05/2010 19:40

PS

Government Gilts sold out being over subscribed!



Richard

wotzup7


Joined: 27/02/2010
Posts: 108

Message Posted:
11/05/2010 20:26

DN,is the parliment as "well hung" as yourself?

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
12/05/2010 00:26

£ rising!



Richard

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
13/05/2010 20:48

Now 2.22 so much for the market predictions Stubs, not a bad little earner for you currency shufflers just hope Ant n Dec (Dave n Nick) manage to keep the vultures away or the £ is in the crap.



D.N

ang1706


Joined: 28/01/2009
Posts: 570

Message Posted:
13/05/2010 21:19

Comon everybody how short are your memories................................. you forgotten when the Lira was 1.98.

We all wish for it to be back about 3 to the pound but what did the local traders do, yes increase prices!

I first was serious in coming to live in Cyprus in 2005 and at the time was 2.75 then as soon as I banked a wad it shot up to 3.15(approx) but I noticed that when I returned a few weeks later ALL the prices had increased and the reason was the strength of sterling against Lira (have not seen any reduction though!!)

tattlad


Joined: 13/12/2008
Posts: 479

Message Posted:
14/05/2010 14:40

£1 = 2.23 today, I think DN was correct in his prediction, but I think the £ will climb now that Cameron has his hands on the wheel, I reckon by July it'll be back to £1 = 2.4

TheScarlets



Joined: 14/04/2009
Posts: 877

Message Posted:
14/05/2010 14:59

slight recovery after a shaky start today

Stubs


Joined: 01/07/2008
Posts: 641

Message Posted:
14/05/2010 15:01

D N



You made the predictions re the slide of the £GBP the only significant change is against the $USD, however the $USD has been getting stronger against other currencies so is not so much a weakening of the £GBP but more like a higher value of $USD



As I said the markets had already predicted a hung parliament so no real changes.



I stand by what I said about the Euro though it is vastly overvalued.



Tattland



If DN is right then 1 pound would give you less TL not more like you predicted!!!

ang1706


Joined: 28/01/2009
Posts: 570

Message Posted:
14/05/2010 15:12

As I said in another thread, the drop in Sterling is not due to any 'Hung Parliament' but thanks to the last one!

The Trade Deficit has widened considerably, yes yet another deficit from Mr Brown and Darling!!

stockiefan


Joined: 04/05/2009
Posts: 574

Message Posted:
14/05/2010 15:22

Just changed sterling 2.21 to the £

Sideways



Joined: 21/01/2009
Posts: 529

Message Posted:
14/05/2010 18:34

I don't think I've seen the GBP this low.



Currency Bank's Bid Rate Bank's Ask Rate

USD-American Dollar 1,5075000 TL 1,5784000 TL

GBP-British Pound 2,1885000 TL 2,2935000 TL

kevnmax


Joined: 05/08/2008
Posts: 105

Message Posted:
14/05/2010 19:07

Who will get the blame now Labour are not in power

swannee7


Joined: 21/08/2009
Posts: 394

Message Posted:
14/05/2010 19:15

Have you heard the reports today that the Euro is in serious danger of collapse? When paper money seems about to become worthless, all those 'in the know' start buying up gold and apparently that's already started.

If the Euro as a trading currency really does implode then the GBP should strengthen (?)

Dixie Normus


Joined: 22/02/2008
Posts: 820

Message Posted:
14/05/2010 19:55

God bless the Jarmans, the engine room of the euro economy, the poor sods will be run ragged keeping the rest of the non productive parasites heads above water, the only thing we can be thankfull to Gormles Gord for is keeping us out of the Euro, he may have sold the gold and made himself the biggest joke in the world , now he's gone things can only improve.



D.N